Could water damage cost your business this winter?

Winter has arrived and soon freezing temperatures will be wreaking their seasonal havoc among commercial business premises, leading to thousands of burst pipes and catastrophic water damage.

Quite often we don’t take the same care and responsibility over our commercial premises as we do our homes yet they are just as susceptible to the harsh effects of winter such as frozen pipes. Taking a few precautionary steps such as checking the insulation of your pipes can be time worth spent if it will help you avoid major damage to your premises as well as business interruption.

If the unthinkable occurs, the impact on profit and business productivity can be just as severe as the water damage itself. It is critical businesses act quickly to resolve the issue and get back on track at the earliest opportunity but negotiating commercial property insurance claims are notoriously lengthy and unless you’re experienced in dealing with claims handlers, you may not receive the full settlement required which will ultimately leave you out of pocket.

Resolving water damage claims can be incredibly stressful. This is partly because insurance companies have fewer loss assessors than in the past and there are simply not enough to go around, especially when demand is exceptionally high as is the case in very cold winters.

Businesses can significantly increase their chances of a swift resolution and appropriate settlement by hiring their own loss assessors who will chase the claim on your behalf and challenge any reluctance from the insurance company to pay out.

Independent loss assessors understand how to correctly mitigate a claim and what evidence needs to be gathered so as not to prejudice a policyholder’s position with their insurers. They are also experienced in assessing the financial cost of any damage or business interruption to maximise any payout.

Geoff Williams, director of Manchester-based loss assessors Cherry and Griffiths, said: “Time is of the essence when dealing with water damage claims. Salvaging work and damage restoration obviously needs to take place quickly to have the best possible effect but businesses can jeopardise a potential insurance claim if the work carried out isn’t in line with the insurance company’s requirements or destroys any evidence they require.

“Our experienced professionals will manage your water damage insurance claim from start to finish so there’s no danger of any mistakes which could cost you your settlement, relieving you of the stress and frustration of dealing with insurance companies. With winter now on our doorsteps it would be wise to not only check your pipes but also familiarise yourself with an experienced loss assessor in case the worst should happen”.